{"id":25016,"date":"2025-06-24T01:42:37","date_gmt":"2025-06-24T01:42:37","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=25016"},"modified":"2025-06-24T01:42:37","modified_gmt":"2025-06-24T01:42:37","slug":"oil-drops-as-iran-israel-ceasefire-clears-supply-fears","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-drops-as-iran-israel-ceasefire-clears-supply-fears\/","title":{"rendered":"Oil Drops as Iran-Israel Ceasefire Clears Supply Fears"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/Oil6-1024x573.webp\" alt=\"\" class=\"wp-image-41762\"\/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brent crude dropped 3.76% to $68.79; WTI fell 3.94% to $65.46.<\/li>\n\n\n\n<li>Prices retreat from five-month highs after Trump announced a ceasefire between Iran and Israel.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p>Oil prices tumbled on Tuesday as the market reacted to news of a <a href=\"https:\/\/t.co\/QAqfIBR1F9\" target=\"_blank\" rel=\"noopener\" title=\"\">ceasefire agreement between Iran and Israel<\/a>, orchestrated by U.S. President Donald Trump. The deal appears to have halted a 12-day conflict that had kept traders on edge over potential supply shocks from the region.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Oil prices sink after Trump announces Israel and Iran have agreed to ceasefire <a href=\"https:\/\/t.co\/R8xPr13zjC\">https:\/\/t.co\/R8xPr13zjC<\/a> by <a href=\"https:\/\/twitter.com\/ines_ferre?ref_src=twsrc%5Etfw\">@ines_ferre<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1937313785426898960?ref_src=twsrc%5Etfw\">June 24, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Brent crude futures fell $2.69, or 3.76%, to $68.79 a barrel by 0006 GMT, having dropped over 4% earlier and touched their lowest level since 11 June. U.S. West Texas Intermediate (WTI) crude slid $2.70, or 3.94%, to $65.46, marking its weakest point since 9 June. <\/p>\n\n\n\n<p>The declines come after both contracts had rallied last week to five-month highs, driven by the U.S. military&#8217;s strike on Iranian nuclear facilities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>The 15-minute CL-OIL-ECN chart clearly reflects this dramatic unwinding. After peaking at $77.903, prices have plunged more than $13 over a matter of days. Tuesday&#8217;s intraday low reached $64.373. Despite a modest rebound, prices remain well below the 30-period moving average, which now acts as short-term resistance.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-27.jpg\" alt=\"\" class=\"wp-image-25017\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Heavy selling in crude triggers technical breakdown below 68.00, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets app<\/a><\/em><\/p>\n\n\n\n<p>The MACD histogram has begun shifting into positive territory, and the MACD line is curling upward\u2014indicating a possible near-term bounce. However, current price action is still caught in a bearish channel and below key resistance at $70.00.<\/p>\n\n\n\n<p>If the ceasefire holds, oil may struggle to regain bullish momentum. Resistance remains firm between $78.40 (October 2024 high) and $80.77 (2025 high). Without a new disruption to supply, the path of least resistance appears downward, with potential support forming around $64.00.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Fundamental Shift in Risk Appetite<\/h2>\n\n\n\n<p>Iran, OPEC\u2019s third-largest crude producer, <a href=\"https:\/\/t.co\/GOyAkvbkdK\" target=\"_blank\" rel=\"noopener\" title=\"\">will likely resume full exports<\/a>, boosting supply and easing pressure on global markets. This sudden drop in cross-border tension strips oil of a major bullish narrative.<\/p>\n\n\n\n<p>Last week\u2019s rally, triggered by fears of regional war, has now reversed almost completely. With both Iran and Israel committing to the ceasefire terms, and the agreement structured in a staggered 24-hour de-escalation, traders are reassessing the probability of future supply disruptions.<\/p>\n\n\n\n<p>A sustained ceasefire could bring WTI into a consolidation zone between $64.00 and $68.00. However, should new tensions arise or the truce break down, oil could rebound sharply. Traders will watch <a href=\"https:\/\/t.co\/DyMexLEK75\" target=\"_blank\" rel=\"noopener\" title=\"\">inventory data and OPEC signals<\/a> closely for fresh direction.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Create your live VT Markets account<\/a> and <a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*1azgbap*_gcl_au*NjE5NTE3MjY4LjE3NDQ2MDA3NDI.*_ga*MTY4OTgwNTU5Mi4xNzM2NzQ2MTgy*_ga_J26NL1ZVX7*czE3NDQ5NDQ0NTYkbzEyMCRnMCR0MTc0NDk0NDQ1NiRqNjAkbDAkaDA.\" target=\"_blank\" rel=\"noopener\" title=\"\">start trading<\/a> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude prices plunged as Trump announced a ceasefire deal between Iran and Israel. Markets unwound last week\u2019s risk premium. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":41762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[66],"class_list":["post-25016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/25016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=25016"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/25016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/41762"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=25016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=25016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=25016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}